Guelph Real Estate Market 2021

Описание: Guelph's inventory is at an extreme low, and while now is a great time to be a seller buyers are getting pushed out of the market.

Steve gives a quick overview of why we're experiencing these lows and how The Zahnd Team can help buyers win in this market.

Check it out and give us a call when you're ready to talk real estate!
226-777-5578

http://zahndteam.ca/hire-us/

________________________________________________________________________

Hey!

What’s going on everybody, my name is Steve Zahnd from The Zahnd Team and today I want to talk to you about the super low inventory rates in Guelph here.

If you're a buyer navigating this you might be experiencing some frustrations and you're really not sure if now is the right time to sell or potentially what your property is worth given all the changes that have happened.

So why is it so low?

So last year the Bank of Canada lowered the qualifying interest rate for a buyer to be able to buy a property. So let me give you a quick example, let's say interest rates are 3% technically speaking even though interest rates are 3% you still need to qualify at 6% interest rate. So if interest rates went up you wouldn’t lose your house because you couldn’t afford the higher interest payments. So that’s what happened.

They dropped from 4.94 to 4.79. Essentially what happened was it allowed a lot of buyers to increase their affordability so now more buyers are entering in the marketplace.

Okay so that's one of the reasons why inventory is potentially so low, that plus the obvious recent drop in interest rates hit historical lows, I mean it’s been historically low for a long time and now it's ridiculously low at almost 1.79% for a 5 year fix that’s unheard of. So with the increased buying power and qualifying power of buyers plus the decreased interest rates this flooded the market with buyers.

We already know we are in supply crunch in Guelph, especially, and we’ve been in a supply crunch since 2015. So adding more buyers to an already underserved or under supplied market is clearly going to drive purchasing and drive prices up.

That's why in years like 2017 it is over 20% growth just last year, it looks like the numbers are 15% growth.

That is the issue with this year, so typically at this time we have 200 units for sale in the market sometimes two to three hundred since we’re getting closer to February now. Right now as of today, I'm looking for active properties, we have 84 properties available in Guelph, so as you can see that is super low inventory.

That's what's causing prices to have skyrocketed and obviously push into multiple offers of tens and tens and tens of thousands over asking as you’ve probably experienced. So if you are a homeowner right now and you’re thinking “Hey, is now the right time to offload? And I’m not even sure what my house is worth yet.” Booking a strategy call with The Zahnd Team can definitely illuminate the situation for you, we can give you the market data and we can show you what your house is worth in a potential strategy and how to execute, and what the net proceeds in your pocket would be after everything's said and done.

If you're looking to buy another house after that we can also help you strategize on a buying strategy, and what goes into that and so on and so forth. A strategy call is very valuable, no obligation and it’s definitely going to help you out.

If you're a buyer, you definitely need a buying strategy and a pre-emptive negotiation offer strategy to make sure that you can get the best house at the best price. Even in this market place you can still win deals, you just need an expert to guide you.

If you're in any one of those situations it's definitely worth a call, I hope this was insightful for you and you know why the inventory rates are so low and potentially explain why prices are skyrocketing.

My name is Steve Zahnd, I really appreciate your time, if you have any questions feel free to reach out to us.


#thezahndteam #guelphrealestate #ontariorealestate #whenresultsmatter #5starexperience